Realtors and buyers often work together without a written contract, but the opposite is true for realtors and sellers. On the listing side, written contracts are overwhelmingly the rule, not the exception. A listing agreement is a binding legal contract that shouldn’t be taken lightly. The necessity of reading the contract carefully and understanding what it means before you sign it can’t be overstated. If you need legal advice, consult an attorney.

Listing contracts vary considerably from place to place. However, most realtors use established listing agreement forms that are the de facto industry standard in their area or are dictated by their brokerage company. Everything on these preprinted forms is negotiable.

Here are some basic terms to consider:

1. Term of the Agreement. A longer agreement benefits the agent because it allows him or her more time to find a buyer for your home. In a weak market, listing contracts are usually for a much longer term. If the home doesn’t sell within the initial period and you’re satisfied with the agent’s efforts, you can offer to extend the term of the agreement before it expires.

2. Commission. Although commissions are negotiable, most areas have a standard percentage that agents expect to receive. This amount usually is 6 percent of the sales price, but you will find agents who accept 5 percent and agents who ask for 7 percent. Whether you want to pay the percentage that’s typical in your area or negotiate a lower rate is up to you. A lower commission will save you money. A higher commission will give the agent more incentive to invest in marketing your home. Other agents can find out how much commission is offered on your home through the MLS. The agent’s commission should not be renegotiated as part of the purchase agreement between the seller and the buyer.

3. MLS. A listing agreement typically authorizes your agent to post your home in the Multiple Listing Service (MLS). Unless you’re selling a very exclusive property or have serious personal privacy concerns, the MLS is a no-brainer because it helps the agent market your home to the widest possible group of potential buyers. Today, most MLS databases are accessible by consumers on the Internet. The public does not have access to commission information on the listings.

4. Lockbox. A lockbox is a tiny key-holding safe that can be inconspicuously attached to the front of your property. Any agent who has the means of accessing the lockbox (e.g., the key or combination) can retrieve the keys to your home, unlock your door and show your home to prospective buyers even when neither you nor your agent is present. The more people who see the property, the better chance you’ll have of selling it for a favorable price.

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We had the privilege and blessing to have Rochelle help us purchase our first home! We could not have asked for a better realtor. She was flexible with our hectic schedule, and informative about all the properties. As an agent she respected our price point, needs and wants in our home. Rochelle helped us to understand the home buying process and made what could have been a scary and stressful process
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Cody and Savannah Buckner

Rochelle has been a delight to work with on the listing of my multi-million-dollar home. With her past experience she has brought innovative marketing concepts to the table not seen before in the Billings market. She applies those, as well as her keen professionalism, attention to detail, and no excuses attitude to working with her clients. I highly recommend her.

Fran Oakland

Thanks so much for all your patience and enthusiasm in dealing with the purchase of our new home in Billings. It’s not easy to do business as an out-of-state buyer and you were so supportive and made sure that we were fully aware of the steps involved in the transaction. You were definitely in our corner throughout the whole process and we felt that we could rely on you at all times to do exactly what we asked of you. We feel as though you became part of the family! We are looking forward to our move and to seeing you again soon.

K.S

Rochelle guided us through a difficult out of state transaction with enthusiasm and professionalism. She was thorough, kept us informed at all times and we felt she was eager to do exactly what we wanted. She was patient with all the email transactions and was willing to go the extra mile to accomplish our objectives. We felt as though she was part of the family by the time we were done!

S. L

Thank you Rochelle and Nels for superb service! Our previous realtor passed away. I didn’t think anyone could live up to his great service. Rochelle and Nels introduced me to the future through their listing of our home. They got our home on the market in record time to catch an important holiday weekend.I knew from the beginning we made the right choice. Nels drone photos, videos and virtual walk through were absolutely amazing! If I had any concern, Rochelle not only gave great insight but it was clear she had done extensive research, knowing all the community stats, trends and numbers to back up her position. Everything from their website, social media blitz, keeping us informed on interested buyers, signage, small unique touches, interaction with realtors and offers were second to none! We had three offers in little more than a month! We couldn’t have been happier. Thank you Rochelle and Nels!